Arsenal came out of the blocks quickest on the day, pressing Liverpool high up the pitch and creating a few half-chances for themselves.

But the game was relatively quiet until the 28th minute when Alberto Moreno brought down Theo Walcott with a poor sliding challenge and left Michael Oliver no choice but to award a penalty.

It was the England winger who stepped up to take the spot kick, although his effort was saved well by Simon Mignolet to his right.

The Gunners' disappointment was short-lived however when Walcott atoned for his miss almost immediately.

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Francis Coquelin won the ball from Adam Lallana in the centre of the park before Alex Iwobi played a brilliant ball to Walcott who was left unmarked by Moreno.

The 27-year-old shot home well to put the Gunners ahead after 30 minutes, just 68 seconds after the penalty save.

Arsenal were close to heading into half time worthy leaders, but Philippe Coutinho stepped up to spoil the party.

He fired a sublime free-kick into the top corner of the net that Petr Cech could only wave at as it went by.

After the break Liverpool seized the game by the scruff of the neck.

Jurgen Klopp's side took just four minutes of the new half to put themselves in front, with Adam Lallana finishing well after receiving a cross from new signing Georginio Wijnaldum.

Arsenal seemed to have no answer for the surging Merseysiders, and Philippe Countinho compounded Arsene Wenger's misery on 56 minutes by flicking a Nathaniel Clyne cross into the far corner of the net.

The match was in danger of becoming a rout when seven minutes later £30m signing Sadio Mane marked his Liverpool debut by dancing through the Arsenal defence and whipping a superb finish into the top corner from a tight angle to put his side 4-1 ahead.

But the game was turned on its head yet again just two minutes after Liverpool's rapturous celebrations when Alex Oxlade-Chamberlain gave his side a glimmer of hope.

He drove into the box from the wing and smashed the ball past Mignolet into the near post.

And the chance of a result became a lot more real on 75 minutes when Calum Chambers nodded a fierce Santi Cazorla free kick past the stranded Mignolet.

The final 15 minutes were an open affair with both sides creating a number of chances, but Liverpool managed to hold onto their slender victory and bagged three points to start the season.